By Inman News, Tuesday, July 13, 2004. Editor's note: The Rookie Realtor last month took the online plunge and set up a Web site to attract more prospects. However, the newbie's site has attracted only one customer since then. Some colleagues offered advice on what the Rookie might do to get more clicks. Dear Rookie: I'm sorry but the Rookie's story about creating a Web site then waiting for visitors had me laughing out loud. more...
By Carol Lloyd, Tuesday, July 13, 2004. The building has been empty for years. Now the windows are boarded up, the facade is peeling and the neighbors are talking. Crime, drugs, death, madness? How can something this valuable, tangible and costly fall through the economic cracks? Shouldn't there be a law against leaving a perfectly livable or usable space uninhabited year after year? more...
By Inman News, Tuesday, July 13, 2004. MassHousing, a quasi-public state agency that makes and insures home mortgage loans, is providing no-cost, job-loss protection coverage to borrowers who become unemployed. The new benefit, called MI Plus, makes the principal and interest payments on a homeowner's mortgage for up to six months in the case of unemployment. more...
By Inman News, Tuesday, July 13, 2004. The Corcoran Group, a leader in New York, Palm Beach and Hamptons' real estate, reported tremendous growth in home-sale prices for the first six months of 2004. more...
By Inman News, Tuesday, July 13, 2004. You have to be a millionaire to afford the average Manhattan apartment, according to the latest quarterly report prepared for Prudential Douglas Elliman by Miller Samuel, a real estate appraisal firm. The average sales price of a Manhattan apartment in the second quarter of this year soared to a record-high $1.05 million, or 4.9 percent above the $998,905 average price for the first quarter of this year and 29.9 percent higher than the average price in the second quarter of 2003. more...
By Inman News, Tuesday, July 13, 2004. Bank of America today reported second quarter earnings of $3.85 billion, or $1.86 per share (diluted), compared with earnings of $2.74 billion, or $1.80 per share, a year ago. Current results reflect the addition of FleetBoston Financial Corp., which the company acquired April 1, 2004. Under purchase accounting rules, year-ago and first-quarter 2004 results do not include the impact of Fleet. more...
By Inman News, Tuesday, July 13, 2004. Overall loan applications dropped by 6.3 percent last week on a seasonally adjusted basis, according to the Mortgage Bankers Association's weekly survey. The MBA seasonally adjusted purchase index decreased by 6.4 percent to 468.8 from 500.9 the previous week. The seasonally adjusted refinance index decreased by 6.1 percent to 1,662.4 from 1,769.7 one week earlier. more...
By Inman News, Tuesday, July 13, 2004. Long-term mortgage interest rates were higher Tuesday, and the benchmark 10-year Treasury bond yield rose to 4.47 percent. The 30-year fixed-rate average climbed to 5.69 percent, and the 15-year fixed-rate inched up to 5.11 percent. The 1-year adjustable was up at 3.36 percent. The 30-year Treasury bond yield inched up to 5.22 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. more...
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